Weekly Market Update, February 28/20

Because thats tin foil hat/conspiracy stuff tom. The rational people out there know that in 2 months no one will be talking about coronavirus. Has absolutely no relationship to buying a house in Edmonton.

Tom,
It must be the strong feeling of confidence people have in our illustrious leader, Justine.
He's doing such a great job taking care of Canadians and our economy that people are rushing out to buy housing. They see a bright and wonderful future ahead for Canada and especially for Alberta, after our PM has done such great work.

Where is Tony? He didnt comment last week....

PS I am wondering what impact the spike in Dec starts will have on the spring inventory....

Who are these people buying houses? We have a likely virus outbreak leading to business closures in the next few months, oil prices tanking which will lead to countless oil company bankruptcies over the next year, a public sector slaughter underway (which will cost even more jobs next budget if oil prices are still low, and a stock market crash underway.

And so the sky is falling. So I don't need a place to stay at? We should also stop buying a car? and other items too? Stock market was due for a correction long time; this might have been a trigger. Besides, ordinary people don't treat buying a house as trading stock anyway. It's a place to raise family.

The coronavirus will lead to a Bank of Canada rate cut which will push housing prices into the stratosphere in the GTA as well as rents. Like California people will have to leave as they won't be able to afford to buy or rent. Maybe some of them will come to Alberta.

This shows that the 4 week running average price is rising quite a bit. I am not going to dispute that
statistic as there may be an explanation for that. Perhaps some more expensive SFH have sold.
Currently we are looking to buy a SFH on the south side and prices seem to be a bit soft.

GM, I think Trudeau is doing a great job. He's doing exactly as one should in terms of spending to get us through economic rough patches like we are in now. Plus without him buying TMX, we would never even have the possibility of having another pipeline built. Though I think there's little chance of TMX actually being built.

Plus, as much as I want my house to go up in value, I'm an adult and I know that we do need to stop producing oil for the sake of future generations. And I support the $200 a ton that the carbon tax will likely be raised to by 2027 as Trudeau has hinted at for the need to meet the Paris Accord.

Unless oil recovers drastically in the next year, I was reading an article that about half of small and mid cap producers in Alberta might not make it through the next year. And I know it's not popular here, but I'll be so happy when that happens.

Why would anyone be happy if some oil producing companies in Alberta close down. This is just
pathetic thinking. Where do you think some of the money comes from to pay for our roads and
and hospitals. People who think that way need to get their head out of the sand. And furthermore, if
Alberta oil companies, who already produce some of the cleanest oil around, close down, it won't
have any effect on the world's environment. Russia and Saudi Arabia will be happy to take our share of
the oil market and they are the dirtiest oil producers out there.

Oil companies can dig up all oil sand and take away the money to invest somewhere else. Alberta still needs a better plan besides oil.

"A common guy" said it perfectly. All the chicken littles who always post here saying the same thing... The sky is falling... Prices crashing... The end is nigh... Grow up and give your heads a collective shake.

The world isn't going to end, neither is oil production in AB (on the contrary, it's still going to increase by 50% in the next 15 years, even without Teck Frontier! Oil isn't going anywhere folks, and that I'm glad for). AB's economy, while not great, is going to be just fine most likely by the end of 2020, in spite of Turdeau doing everything in his power to destroy AB.

People are still moving here, and they all need homes. They are still buying all the same stuff, just at a slightly slower pace than in the past. AB's home prices have most likely bottomed out or close to it, and should resume their march towards new highs soon.

Tom,
Russia is currently building the world's largest oil production facility ever seen on the planet.
When complete it will create 11 towns and over $100 billion in prosperity. And the CO2 will be belching out full throttle. But you can rest happily knowing a bunch of tiny oil producers in Alberta went bankrupt, which will have ZERO effect on world CO2 emissions. And you can be happy knowing the world is moving on becoming more and more prosperous while Canada turns into a 3rd world banana republic communist dictatorship.

It's sad what Russia is doing, but I can only control what Alberta does going forward. We need to transition to renewable energy, which you're certainly starting to see with the wind turbine project in southern Alberta, and conventional oil project being postponed/cancelled. I think five years from now Alberta will look very different. Oil will be a nominal part of our economy, while we become an alternative energy producer.

Yes, in 5 years Alberta will look very different. Like how Venezuela looked very different 5 years after their economy collapsed.

Trump shot down the pipeline and everyone blames Trudeau. Trump also killed off the railways in Canada thanks to Buffet's holdings of railways in America. Why people blame Trudeau and not Trump I'll never know?

Really Tom?
I don't remember seeing Trump standing in the railway blockade.
And I don't recall Trump telling Canada it couldn't build a pipeline.
Must have missed that.